The Prague Post - Fossil fuels causing cost-of-living crisis: climate expert

EUR -
AED 4.327184
AFN 81.300312
ALL 97.089294
AMD 451.417189
ANG 2.10957
AOA 1080.469334
ARS 1727.359565
AUD 1.766968
AWG 2.120878
AZN 2.010404
BAM 1.960076
BBD 2.372276
BDT 143.371588
BGN 1.956969
BHD 0.444261
BIF 3469.992518
BMD 1.178266
BND 1.509493
BOB 8.156796
BRL 6.265426
BSD 1.17787
BTN 103.808487
BWP 16.639303
BYN 3.988302
BYR 23094.00793
BZD 2.368868
CAD 1.622177
CDF 3367.483704
CHF 0.934602
CLF 0.02858
CLP 1121.202271
CNY 8.388065
CNH 8.380645
COP 4604.744876
CRC 593.294435
CUC 1.178266
CUP 31.224041
CVE 111.022116
CZK 24.311184
DJF 209.401389
DKK 7.463919
DOP 74.171603
DZD 152.744834
EGP 56.779687
ERN 17.673986
ETB 169.552081
FJD 2.633654
FKP 0.865987
GBP 0.86477
GEL 3.198059
GGP 0.865987
GHS 14.410455
GIP 0.865987
GMD 83.069646
GNF 10203.781375
GTQ 9.028699
GYD 246.42765
HKD 9.16537
HNL 30.823701
HRK 7.536071
HTG 154.126269
HUF 389.518119
IDR 19310.891299
ILS 3.946778
IMP 0.865987
INR 103.742584
IQD 1543.528081
IRR 49546.072864
ISK 143.206235
JEP 0.865987
JMD 189.172732
JOD 0.835402
JPY 173.160291
KES 152.234425
KGS 103.039288
KHR 4721.311295
KMF 493.097663
KPW 1060.447831
KRW 1625.240588
KWD 0.35956
KYD 0.981542
KZT 636.558828
LAK 25533.01778
LBP 105513.694083
LKR 355.776224
LRD 209.937477
LSL 20.443006
LTL 3.479113
LVL 0.712721
LYD 6.356688
MAD 10.579354
MDL 19.593749
MGA 5272.739296
MKD 61.623162
MMK 2473.278308
MNT 4238.365816
MOP 9.43749
MRU 47.042254
MUR 53.4347
MVR 18.022151
MWK 2046.647649
MXN 21.621388
MYR 4.956376
MZN 75.288332
NAD 20.454896
NGN 1767.433574
NIO 43.254019
NOK 11.567229
NPR 166.093378
NZD 1.9731
OMR 0.45305
PAB 1.17787
PEN 4.115093
PGK 4.921031
PHP 67.096336
PKR 331.622997
PLN 4.249523
PYG 8409.347304
QAR 4.289771
RON 5.062533
RSD 117.19062
RUB 97.793179
RWF 1703.772218
SAR 4.419634
SBD 9.681828
SCR 17.473741
SDG 708.725815
SEK 10.918376
SGD 1.507084
SHP 0.925932
SLE 27.483048
SLL 24707.647138
SOS 673.378455
SRD 46.117912
STD 24387.721302
STN 24.979233
SVC 10.306399
SYP 15319.64444
SZL 20.442813
THB 37.381069
TJS 11.136598
TMT 4.12393
TND 3.413446
TOP 2.759611
TRY 48.678983
TTD 7.994442
TWD 35.43104
TZS 2899.36082
UAH 48.530471
UGX 4128.006381
USD 1.178266
UYU 47.272737
UZS 14586.929273
VES 188.813987
VND 31082.649448
VUV 140.429528
WST 3.253077
XAF 657.39128
XAG 0.027583
XAU 0.00032
XCD 3.184322
XCG 2.122832
XDR 0.819242
XOF 656.891903
XPF 119.331742
YER 282.308319
ZAR 20.432217
ZMK 10605.80429
ZMW 27.826712
ZWL 379.401078
  • RBGPF

    -1.2700

    76

    -1.67%

  • CMSC

    -0.0400

    24.32

    -0.16%

  • CMSD

    0.0500

    24.45

    +0.2%

  • RYCEF

    0.2200

    15.64

    +1.41%

  • NGG

    0.0200

    71.62

    +0.03%

  • VOD

    -0.0400

    11.81

    -0.34%

  • SCS

    0.0600

    16.87

    +0.36%

  • RELX

    0.3600

    46.86

    +0.77%

  • RIO

    1.2800

    63.72

    +2.01%

  • BCC

    -0.5600

    85.12

    -0.66%

  • JRI

    -0.0365

    14.06

    -0.26%

  • GSK

    -0.5300

    40.3

    -1.32%

  • BCE

    -0.4700

    23.69

    -1.98%

  • BTI

    -0.5600

    56.03

    -1%

  • AZN

    -1.5100

    78.05

    -1.93%

  • BP

    0.3200

    34.21

    +0.94%

Fossil fuels causing cost-of-living crisis: climate expert
Fossil fuels causing cost-of-living crisis: climate expert / Photo: AXEL SCHMIDT - AFP/File

Fossil fuels causing cost-of-living crisis: climate expert

The cost-of-living crisis pushing millions of people towards poverty in Europe is driven by fossil fuels, according to a leading Earth systems scientist, who has warned that global heating risks causing runaway climate change.

Text size:

Johan Rockstrom, director of the Potsdam Institute for Climate Impact Research and co-author of the new book Earth For All, said that spiralling inflation was in large measure a result of decades of government failures to decarbonise their economies.

"I find it very disturbing that our political leaders in Europe are unable to communicate that high living costs right now are caused by higher prices on fossil fuels," he told AFP at the book's launch on Tuesday.

"So this is fossil fuel-driven, supply-driven inflation. If 20 years ago you invested in solar (panels) or had a share in a wind farm, you're not affected today.

"The only reason why we have this crisis now is that we've had 30 years of underinvestment in preparing towards this turbulent phase which we knew would be coming," said Rockstrom.

"We've been saying since 1990 that we need to phase out the fossil fuel-driven economy towards a renewable-driven economy. And now here we are -- we're now hitting the wall."

European energy prices soared to new records last week ahead of what many analysts expect to be a challenging winter as Russia's invasion of Ukraine continues to disrupt oil and gas supplies.

The year-ahead contract for German electricity reached 995 euros ($995) per megawatt hour, while the French equivalent surged past 1,100 euros -- a more than tenfold increase in both countries from last year.

In Britain, energy regulator Ofgem said it would increase the electricity and gas price cap almost twofold from October 1 to an average £3,549 ($4,197) per year.

Rockstrom, who helped pioneer the concept of planetary boundaries -- thresholds of pollution or warming within which humanity can thrive -- said he hoped the current energy price crisis would be "communicated as another nail in the coffin" for oil, gas and coal.

"This should accelerate our transition towards renewable energy systems," he said.

- 'Giant changes required' -

Rockstrom has spent two years working on Earth For All -- a guide to help humans survive climate change -- with several of the authors of The Limits to Growth.

Written 50 years ago, that groundbreaking work warned that the development of civilisation could not go on indefinitely with no limit to resource consumption.

The new book outlines two growth trajectories this century.

The first -- "Too Little, Too Late" -- sees the economic orthodoxy of the last 40 years endure, leading to ever starker inequality as the Earth's average temperature rises by 2.5 degrees Celsius (36.5 degrees Farenheit) by 2100.

The second -- the "Great Leap" scenario -- sees unprecedented mobilisation of resources to produce five changes: eradicate poverty and inequality, empower women, transform the global food system towards more plant-based diets, and rapidly decarbonise energy.

In particular, the book says the International Monetary Fund must provide $1.0 trillion annually to poorer nations to create green jobs, and rich governments to cancel debt to low-income creditors while giving their own citizens a "universal basic dividend" to help share corporate windfalls.

Rockstrom said the tools are already available to make the Great Leap possible.

"(It) is to do with the current knowledge on all the current existing technologies and practices and policies. If we could put in place all the five turnarounds and scale them up very fast, that's the best outcome we can have."

- 'Urgency point' -

The project comes after another record-breaking summer that has seen unprecedented heatwaves and drought in Europe and China and devastating floods in Pakistan.

Rockstrom said the world had reached an "urgency point" as climate-linked disasters occur more frequently than predicted in climate models.

"Here we are -- at 1.1C (of warming now), the things that we thought would happen perhaps at 2C are happening much earlier and are hitting harder," he said.

Rockstrom was recently involved in a paper studying the "climate endgame" -- scenarios such as the complete melting of the Greenland ice sheet or heating "feedback loops", which are deemed by scientists to be extremely unlikely and, he believes, therefore understudied.

He explained the possibility of "self-amplified warming", which is when the Earth itself is triggered into producing emissions from carbon stored in forests and methane in permafrost.

"There is a risk of rolling towards a worst-case scenario, not because we are ploughing in more carbon dioxide and greenhouse gasses from (manmade) sourcing but that the Earth system itself starts emitting these greenhouse gasses."

Rockstrom said scientists needed to "open up a much broader palette of scenarios" in climate models that could incorporate the kind of low-probability, high-impact events that could lead to runaway warming.

As to whether governments were finally ready to take the kind of system-changing action needed to avoid climate meltdown, Rockstrom said that he was "actually quite pessimistic".

"If you asked me three years ago, I would have said I was optimistic -- we saw a post-Paris momentum and more policies coming into play and businesses stepping on board," he said.

"Now with the post-Covid meltdown in public trust and the rise of populism ... I cannot see that we are really ready to implement all these giant leaps.

"That's why timing is really important. We need to bring back the debate and we have to have a conversation about the urgency of action. But is it a challenge? Definitely."

D.Dvorak--TPP